AS 30 query...

AS 636 views 2 replies

Joey Tribbiani

fdg

2010 Points Joined April 2010

As per AS-30,investments are to be classified in 4 heads,among them 2 are FAIR VALUE THROUGH PROFIT & LOSS (FVTPL) Account & AVAILABLE FOR SALE. Definitions of the above said categories are:

FVTPL- Financial assets held for trading and those designated to the category.

AVAILABLE FOR SALE- includes all equity securities other than those classified as at fair value thru income and which do not fall in any other categories.

My question is how to classify a security into above two categories.,I want to know the basis.

Replies (2)

U S Sharma

glidor@gmail.com

21063 Points Joined January 2010

Originally posted by : Mohd Atir
	As per AS-30,investments are to be classified in 4 heads,among them 2 are FAIR VALUE THROUGH PROFIT & LOSS (FVTPL) Account & AVAILABLE FOR SALE. Definitions of the above said categories are: FVTPL- Financial assets held for trading and those designated to the category.( other than demat holdings) AVAILABLE FOR SALE- includes all equity securities other than those classified as at fair value thru income and which do not fall in any other categories. ( demat holdings) My question is how to classify a security into above two categories.,I want to know the basis.